A de novo bank supported by Old National Bancorp has opened in Indianapolis.
Generations Community Bank officially debuted on March 9, according to a notice from the Federal Deposit Insurance Corp. Organizers were required to raise $24 million in initial capital.
Old National in Evansville, Ind., was part of the organizing group and paid the organizational expenses.
Generations’ top executives have been on Old National’s payroll, and Bob Jones, who ran Old National from 2004 to 2019, is Generations’ chairman. Other directors – Rafael Sanchez, Daryl Moore, and Roland Shelton – are former Old National bankers.
Al London, formerly area manager of business banking at Chase Bank, is president and CEO.